EUR/GBP – 1H – SELLThe pair Euro/British Pound (EUR/GBP) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support at 0.82864 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.83007 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Black Crows’ candlestick pattern is discovered. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.83386 |
| 2nd High | 0.83314 |
| Next High | 0.83007 |
| Current Price | 0.82951 |
| Next Low | 0.82864 |
| 2nd Low | 0.82671 |
| 3rd Low | 0.82596 |
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Three Black Crows